Federal prosecutors in N.J. accuse N.Y. man of $100K wire fraud

TRENTON — Federal prosecutors in New Jersey say a former partner in a New York-based payroll services firm has been arraigned on wire fraud charges.

Mark Holzwanger, of Forest Hills, N.Y., was released today on a $100,000 bond after appearing in U.S. District Court in Trenton.

A federal indictment alleges that Holzwanger and three other men involved in the operations of Total Time Solutions defrauded clients out of more than $3 million in payroll tax payments that were never turned over to the Internal Revenue Service.

The defendants face a maximum potential penalty of up to 20 years in prison on each of three counts of wire fraud.